Preview: India's Asian Paints rises ahead of fourth quarter results
BUZZ- PREVIEW-India's Asian Paints rises ahead of fourth quarter results ** Shares of India's Asian Paints ASPN.NS rise as much as 0.67%, last up 0.19% to 2677.01 rupees
** Paintmaker to report fourth quarter results on the day
** Analysts on average expect the co to post a 61% year-on-year rise in Q4 profit to 11.16 billion rupees ($116.71 million) -- data compiled by LSEG
** The quarter was marked by heightened volatility in crude oil and raw material prices amid the Middle East conflict, prompting paintmakers to raise prices to protect margins
** Co had reported a surprise profit decline in the December quarter due to a one-off charge related to India's new labour laws
** ASPN rated "hold" on average by 35 analysts, median PT at 2729 rupees --LSEG data
** YTD stock down 3.62%
($1 = 95.6225 Indian rupees)
(Reporting by Surbhi Misra in Bengaluru)
((Surbhi.Misra@thomsonreuters.com | X: https://twitter.com/SurbhiMisra_ |;))
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